SendGrid (NYSE:SEND) has been given a consensus recommendation of “Buy” by the seven research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $28.25.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of SendGrid from a “buy” rating to a “hold” rating in a research report on Saturday, March 17th. Morgan Stanley increased their price objective on shares of SendGrid from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Stifel Nicolaus increased their price objective on shares of SendGrid from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, KeyCorp restated an “overweight” rating and set a $32.00 price objective (up previously from $26.00) on shares of SendGrid in a research report on Monday, February 26th.
Shares of SendGrid stock opened at $27.34 on Friday. The company has a market cap of $1,161.47 and a P/E ratio of -143.89. SendGrid has a twelve month low of $17.50 and a twelve month high of $32.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.71 and a current ratio of 8.71.
SendGrid (NYSE:SEND) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $31.73 million for the quarter, compared to the consensus estimate of $29.45 million. research analysts anticipate that SendGrid will post -0.13 earnings per share for the current fiscal year.
In other SendGrid news, insider Sameer Dholakia sold 368,231 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $22.86, for a total transaction of $8,417,760.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Group Select Fund L.P Foundry sold 2,952,718 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $22.86, for a total transaction of $67,499,133.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,355,949 shares of company stock valued at $76,716,994.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deer VIII & Co. Ltd. purchased a new stake in shares of SendGrid in the fourth quarter worth $171,217,000. Keenan Capital LLC purchased a new stake in shares of SendGrid in the fourth quarter worth $16,779,000. BlackRock Inc. purchased a new stake in shares of SendGrid in the fourth quarter worth $16,723,000. Clearbridge Investments LLC purchased a new stake in shares of SendGrid in the fourth quarter worth $10,979,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of SendGrid in the fourth quarter worth $9,128,000. 41.22% of the stock is owned by hedge funds and other institutional investors.
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SendGrid, Inc operates as a digital communication platform in the United States and internationally. Its cloud-based platform provides various tools to the businesses, including developers and marketers to reach their customers using an email. The company offers services, such as email application programming interface (API), which allow developers to use its API in their preferred development framework and to use its platform to add email functionality to their applications; marketing campaigns that allow marketers to upload and manage customer contact lists, create and test email templates, and execute and analyze email campaigns to engage customers; and expert services to help businesses optimize their email delivery.
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